I also don't think Apple will release the so-called iphone 5 in 2011..these r my reasons;

1) CDMA Verizon iphone 4 just released in Jan 2011.

- based on their history,they did release new iphone once a year..but when the iphone 4 CDMA was released,it messed up 'once a year' theory. Apple would have to pull back the date for iphone 5.

2) WDCC announcements

- every year,Apple would give a sneak peak of new iphone model in this 'roadshow'. however,2011 is the year where Apple will concentrate on software rather than hardware updates.

3) White iphone 4 in coming months.


Anyway,this is what i read.